What You Should Know Before You Accept a Settlement Offer

If you’ve suffered an injury due to someone’s carelessness, you can seek the compensation you need to cover your medical costs, lost income, and other losses by filing a claim with the at-fault party’s insurance company. However, it’s rarely in your best interest to accept the first settlement offer the insurance company makes.

Insurance companies are for-profit entities that will do everything they can to keep their profit margins high and their payouts low. Insurers understand that injured victims need money following an accident to cover their medical bills and may be more willing to accept a quick settlement to stay afloat. However, doing so could cost them dearly. 

Never hesitate to review your case with a knowledgeable personal injury attorney in Montgomery who can give you the advice and help you need to help ensure you’re not leaving valuable compensation on the table. At Serious Injury Law Group, we don’t ever want you to feel like you have to navigate a personal injury claim on your own. We treat our clients like family, which means fighting for what’s right and seeking fair compensation for your losses. 

Before accepting a settlement offer after an accident, consider your rights and how an Alabama personal injury lawyer can help.

Definition of Damages in Alabama

When you’re injured in an accident caused by someone else, you have a right to pursue compensation from the at-fault party to cover the losses you suffer as a result of their negligence. This compensation is often referred to as compensatory damages, and it’s intended to help make the victim “whole again.” 

You Have a Right to Damages

To seek damages, you generally need to show that the at-fault party was negligent, meaning they failed to use reasonable care to avoid injuring others, and that you suffered injuries and losses as a consequence. You also need to be able to put a monetary value on all of the different types of losses you suffer, such as the cost of medical care and the value of intangible losses, such as pain and suffering. 

As a victim, you have the right to consult with an attorney following an accident to help you determine your rights and the potential value of your damages.

Types of Damages You Can Seek 

Generally speaking, there are two types of compensatory damages you can seek in an injury claim or lawsuit. These include economic damages, which are measurable losses such as medical costs, and non-economic damages, which refer to subjective losses, such as emotional distress. 

Examples of economic damages in an injury case include: 

• Current and future medical expenses related to the accident
• Loss of income and related benefits if you can’t work while you recover
• Loss of future earning capacity
• Job retraining if you can’t return to your profession
• Costs of home modifications and at-home care assistance 
• Costs of traveling to and from medical appointments

Non-economic damages you may be able to recover include:

• Pain and suffering
• Mental distress
• Loss of enjoyment
• Loss of companionship

Options If the Settlement Is Too Low 

It is often in the insurance company’s best interest to settle a claim quickly and for as little money as possible. Victims may feel like they must accept a lowball offer. They may be afraid to negotiate, desperate for money to pay their bills, or unsure of the full value of their claim.

If you were injured in an accident and need to pursue compensation for your losses, an experienced Birmingham personal injury lawyer can take up the fight for you, handling the details of your claim and negotiating on your behalf. An attorney can calculate the value of your claim and fight to get you the money you deserve. 

If the settlement is too low or the insurer is not negotiating in good faith, you have the option of taking the case to court. An attorney can help you file a personal injury lawsuit that seeks the full and fair value of your claim.

How Our Personal Injury Attorneys Can Help 

At Serious Injury Law Group, we do things a little differently. We are locally owned and solely focus our practice on personal injury claims. That means we have the knowledge and experience to help you seek maximum compensation for your injuries.

We pride ourselves on being responsive and respectful of your time, and we take calls 24 hours a day. Before you accept any settlement offer, consult with Serious Injury Law Group. For a free consultation, contact us today.